ALIBAUGH : Alibaug is poised for another major
expansion in its premium real estate market, with The House of Abhinandan Lodha
(HoABL) planning a large-scale mixed-use development in partnership with NITCO
and its real estate arm.
The proposed
project, spread across approximately 40 acres at Thal and Lonare in Alibaug,
Raigad, is expected to generate around ₹4,500 crore in combined revenue over
five years. HoABL’s share is projected at about ₹3,000 crore, while NITCO is
expected to receive approximately ₹1,500 crore.
The
development is planned as a premium integrated destination featuring luxury
apartments, townhouses and a boutique luxury hotel proposed under the Miros
brand. HoABL has indicated an investment of approximately ₹1,000 crore, largely
towards construction and development.
The project
is expected to be developed in phases, with detailed information on the
configuration and timelines to be announced later. The proposed development is
also subject to statutory approvals and execution of definitive agreements.
The
announcement comes as Alibaug continues to attract premium residential and
second-home developments, supported by its proximity to Mumbai and growing
interest in lifestyle-oriented housing. The proposed HoABL-NITCO project
represents a shift towards larger integrated developments combining
residential, hospitality and lifestyle amenities rather than standalone housing
projects.
For
Alibaug's real estate market, the project could add significant premium housing
and hospitality capacity over the coming years, while further strengthening the
region's position as a high-value residential and second-home destination.
By : The Realty Times — Real Estate News, Property Insights & Market Updates
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